Landscape Capital Management L.L.C. Decreases Stock Holdings in CubeSmart (NYSE:CUBE)

Landscape Capital Management L.L.C. cut its stake in CubeSmart (NYSE:CUBE) by 60.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,176 shares of the real estate investment trust’s stock after selling 51,498 shares during the period. Landscape Capital Management L.L.C.’s holdings in CubeSmart were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in shares of CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 233 shares during the period. Mirador Capital Partners LP increased its stake in CubeSmart by 1.6% during the third quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after acquiring an additional 248 shares during the last quarter. Presima Securities ULC lifted its stake in shares of CubeSmart by 2.9% in the 3rd quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock valued at $571,000 after purchasing an additional 300 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of CubeSmart by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 311 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Up 0.8 %

NYSE:CUBE opened at $48.71 on Friday. CubeSmart has a 52 week low of $38.29 and a 52 week high of $55.14. The firm has a market capitalization of $11.02 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 13.75 and a beta of 0.84. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average of $50.32 and a 200-day moving average of $47.73.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. During the same quarter last year, the company earned $0.68 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts predict that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CUBE. Wells Fargo & Company increased their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Truist Financial lifted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. Royal Bank of Canada reduced their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Scotiabank started coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price target for the company. Finally, Evercore ISI lifted their target price on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.45.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.